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Side-by-side financial comparison of DONALDSON Co INC (DCI) and HANOVER INSURANCE GROUP, INC. (THG). Click either name above to swap in a different company.
HANOVER INSURANCE GROUP, INC. is the larger business by last-quarter revenue ($1.7B vs $935.4M, roughly 1.8× DONALDSON Co INC). DONALDSON Co INC runs the higher net margin — 12.2% vs 11.0%, a 1.2% gap on every dollar of revenue. On growth, HANOVER INSURANCE GROUP, INC. posted the faster year-over-year revenue change (6.1% vs 3.9%). Over the past eight quarters, HANOVER INSURANCE GROUP, INC.'s revenue compounded faster (5.2% CAGR vs 3.3%).
Donaldson Company, Inc. is a filtration company engaged in the production and marketing of filtration products used in a variety of industry sectors, including commercial/industrial, aerospace, chemical, alternative energy (windmills), food & beverage, and pharmaceuticals. Also the company's research division, located in Minneapolis, Minn., participated in defense-related projects for various military applications.
The Hanover Insurance Group, Inc. is an insurance company based in Worcester, Massachusetts. It was the original name of a property-liability insurance firm established in 1852, and it remained a publicly traded company under that name until the early 1990s, when it changed its name to Allmerica Property & Casualty Companies.
DCI vs THG — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $935.4M | $1.7B |
| Net Profit | $113.9M | $186.8M |
| Gross Margin | 35.2% | — |
| Operating Margin | 16.0% | 11.1% |
| Net Margin | 12.2% | 11.0% |
| Revenue YoY | 3.9% | 6.1% |
| Net Profit YoY | 15.1% | 45.7% |
| EPS (diluted) | $0.97 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $1.7B | ||
| Q4 25 | $935.4M | $1.7B | ||
| Q3 25 | $980.7M | $1.7B | ||
| Q2 25 | $940.1M | $1.7B | ||
| Q1 25 | $870.0M | $1.6B | ||
| Q4 24 | $900.1M | $1.6B | ||
| Q3 24 | $935.4M | $1.6B | ||
| Q2 24 | $927.9M | $1.5B |
| Q1 26 | — | $186.8M | ||
| Q4 25 | $113.9M | $198.5M | ||
| Q3 25 | $114.3M | $178.7M | ||
| Q2 25 | $57.8M | $157.1M | ||
| Q1 25 | $95.9M | $128.2M | ||
| Q4 24 | $99.0M | $167.9M | ||
| Q3 24 | $109.7M | $102.1M | ||
| Q2 24 | $113.5M | $40.5M |
| Q1 26 | — | — | ||
| Q4 25 | 35.2% | — | ||
| Q3 25 | 34.5% | — | ||
| Q2 25 | 34.2% | — | ||
| Q1 25 | 35.2% | — | ||
| Q4 24 | 35.5% | — | ||
| Q3 24 | 35.8% | — | ||
| Q2 24 | 35.6% | — |
| Q1 26 | — | 11.1% | ||
| Q4 25 | 16.0% | 17.3% | ||
| Q3 25 | 15.5% | 14.9% | ||
| Q2 25 | 9.3% | 12.7% | ||
| Q1 25 | 14.4% | 11.6% | ||
| Q4 24 | 14.5% | 16.1% | ||
| Q3 24 | 15.6% | 9.6% | ||
| Q2 24 | 15.5% | 6.2% |
| Q1 26 | — | 11.0% | ||
| Q4 25 | 12.2% | 11.9% | ||
| Q3 25 | 11.7% | 10.7% | ||
| Q2 25 | 6.1% | 9.5% | ||
| Q1 25 | 11.0% | 8.0% | ||
| Q4 24 | 11.0% | 10.6% | ||
| Q3 24 | 11.7% | 6.5% | ||
| Q2 24 | 12.2% | 2.6% |
| Q1 26 | — | — | ||
| Q4 25 | $0.97 | $5.46 | ||
| Q3 25 | $0.97 | $4.90 | ||
| Q2 25 | $0.48 | $4.30 | ||
| Q1 25 | $0.79 | $3.50 | ||
| Q4 24 | $0.81 | $4.60 | ||
| Q3 24 | $0.90 | $2.80 | ||
| Q2 24 | $0.92 | $1.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $210.7M | $243.5M |
| Total DebtLower is stronger | $671.5M | $843.8M |
| Stockholders' EquityBook value | $1.5B | $3.0B |
| Total Assets | $3.0B | $16.5B |
| Debt / EquityLower = less leverage | 0.44× | 0.28× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $243.5M | ||
| Q4 25 | $210.7M | $1.1B | ||
| Q3 25 | $180.4M | $915.7M | ||
| Q2 25 | $178.5M | $244.1M | ||
| Q1 25 | $189.1M | $315.1M | ||
| Q4 24 | $221.2M | $435.5M | ||
| Q3 24 | $232.7M | $427.1M | ||
| Q2 24 | $223.7M | $337.6M |
| Q1 26 | — | $843.8M | ||
| Q4 25 | $671.5M | $843.3M | ||
| Q3 25 | $630.4M | $843.0M | ||
| Q2 25 | $638.8M | $347.8M | ||
| Q1 25 | $514.7M | $722.5M | ||
| Q4 24 | $538.6M | $722.3M | ||
| Q3 24 | $483.4M | — | ||
| Q2 24 | $481.8M | — |
| Q1 26 | — | $3.0B | ||
| Q4 25 | $1.5B | $3.6B | ||
| Q3 25 | $1.5B | $3.4B | ||
| Q2 25 | $1.5B | $3.2B | ||
| Q1 25 | $1.5B | $3.0B | ||
| Q4 24 | $1.5B | $2.8B | ||
| Q3 24 | $1.5B | $2.9B | ||
| Q2 24 | $1.5B | $2.6B |
| Q1 26 | — | $16.5B | ||
| Q4 25 | $3.0B | $16.9B | ||
| Q3 25 | $3.0B | $16.8B | ||
| Q2 25 | $3.0B | $15.7B | ||
| Q1 25 | $3.0B | $15.5B | ||
| Q4 24 | $3.0B | $15.3B | ||
| Q3 24 | $2.9B | $15.4B | ||
| Q2 24 | $2.9B | $14.9B |
| Q1 26 | — | 0.28× | ||
| Q4 25 | 0.44× | 0.24× | ||
| Q3 25 | 0.43× | 0.25× | ||
| Q2 25 | 0.44× | 0.11× | ||
| Q1 25 | 0.33× | 0.24× | ||
| Q4 24 | 0.35× | 0.25× | ||
| Q3 24 | 0.32× | — | ||
| Q2 24 | 0.32× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $125.4M | — |
| Free Cash FlowOCF − Capex | $111.2M | — |
| FCF MarginFCF / Revenue | 11.9% | — |
| Capex IntensityCapex / Revenue | 1.5% | — |
| Cash ConversionOCF / Net Profit | 1.10× | — |
| TTM Free Cash FlowTrailing 4 quarters | $403.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $125.4M | $378.2M | ||
| Q3 25 | $167.8M | $554.4M | ||
| Q2 25 | $87.7M | $206.6M | ||
| Q1 25 | $90.4M | $38.9M | ||
| Q4 24 | $72.9M | $213.5M | ||
| Q3 24 | $126.0M | $394.7M | ||
| Q2 24 | $141.5M | $139.5M |
| Q1 26 | — | — | ||
| Q4 25 | $111.2M | $377.0M | ||
| Q3 25 | $147.5M | $551.4M | ||
| Q2 25 | $73.0M | $204.9M | ||
| Q1 25 | $71.5M | $37.1M | ||
| Q4 24 | $47.9M | $210.5M | ||
| Q3 24 | $106.2M | $392.3M | ||
| Q2 24 | $120.2M | $137.3M |
| Q1 26 | — | — | ||
| Q4 25 | 11.9% | 22.6% | ||
| Q3 25 | 15.0% | 33.1% | ||
| Q2 25 | 7.8% | 12.4% | ||
| Q1 25 | 8.2% | 2.3% | ||
| Q4 24 | 5.3% | 13.3% | ||
| Q3 24 | 11.4% | 25.1% | ||
| Q2 24 | 13.0% | 8.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.5% | 0.1% | ||
| Q3 25 | 2.1% | 0.2% | ||
| Q2 25 | 1.6% | 0.1% | ||
| Q1 25 | 2.2% | 0.1% | ||
| Q4 24 | 2.8% | 0.2% | ||
| Q3 24 | 2.1% | 0.2% | ||
| Q2 24 | 2.3% | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.10× | 1.91× | ||
| Q3 25 | 1.47× | 3.10× | ||
| Q2 25 | 1.52× | 1.32× | ||
| Q1 25 | 0.94× | 0.30× | ||
| Q4 24 | 0.74× | 1.27× | ||
| Q3 24 | 1.15× | 3.87× | ||
| Q2 24 | 1.25× | 3.44× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DCI
| Aftermarket Products | $447.1M | 48% |
| Industrial Filtration Solutions Products | $222.6M | 24% |
| Off Road Products | $86.5M | 9% |
| Life Sciences Segment | $80.0M | 9% |
| Other | $39.1M | 4% |
| Aerospace And Defense Products | $37.1M | 4% |
| On Road Products | $23.0M | 2% |
THG
| Premiums earned | $1.6B | 92% |
| Other | $124.6M | 7% |
| Fees and other income | $6.2M | 0% |
